What is the difference between an executor and a trustee?
The executors distribute and administer the testator’s estate after his death. The trustees Will take over and manage any trust to be created under the Will once the estate administration has been completed.
When ought a trustee be appointed?
Trustees may not always be required. In the case of a simple Will, there is usually no need to create a trust. In other more complex situations the testator may need to create a trust, such as where a minor beneficiary has an interest in the estate and the property cannot be distributed to that minor as he cannot give a good receipt, or where the testator does not wish the minor to inherit his interest in the estate until he reaches a certain age (often 21 in Israel, after the conclusion of IDF service).
For further advice and assistance in making an Israeli or UK Will, feel free to contact Simon: 0737-40-60-40 / 0545-742-374 / [email protected]